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Question about reselling a fleet car (please help)

Hi guys, this is my first post. I'm thrilled to have found this forum. I'm fairly new in the limo business. I have a fleet of a couple of limos luxury cars and SUVs. But my question is regarding reselling a 7 series bmw that I have. It's getting up there in miles and I would like to get rid of this and buy another. I was planning on going into Carmax to get an appraisal. And someone told me that because my car is commercially registered I probably will not get the same value as what book or trade or what Carmax would typically offer had my car had the same year and miles but used as a personally registered car. Is this true? And if so I wonder why I can't find anything on the internet mentioning commercially used cars having less value just because they are used commercially. If this is the case, how much less should I expect from Carmax or even at a dealer for a trade in? Sorry if this is a dumb question. All your advice would be highly appreciated thanks

Had CarMax appraise a 2005 LTC Exec L that had ~ 40K/yr on it at the time. The car showed no dings, no signs of seat/door wear, had just been waxed & detailed. In short, it was retail-ready.

Ebay, etc was showing $7-12K at the time for comparable mileage L's. They came back after about 40 minutes of "inspection" with an offer of $4K. They want a gift. Based on my experience, they will give you less than wholesale so it can be carried to the dealer/insurance sales and they still make some $$.

Last edited by wimpy01; May 26th, 2016 at 02:30 PM.

Bill Payne
American Limousine, LLC
Lake Wylie, SC
704.576.5309
Celebrating 9 years of superior service to the Charlotte, NC market. Serving corporate and individual clients with sedans, vans and limousines.